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Kalo Gold Announces Results of Ground Magnetic Survey at Vatu Aurum Gold Project in Fiji
VANCOUVER, BC / ACCESSWIRE / October 20, 2021 / KALO GOLD CORP. (TSXV:KALO) (" Kalo Gold, " ...
About this update from Kalo Gold Corp
[{"type":"text","content":"Kalo Gold Announces Results of Ground Magnetic Survey at Vatu Aurum Gold Project in FijiVANCOUVER, BC / ACCESSWIRE / October 20, 2021 / KALO GOLD CORP. (TSXV:KALO) (\"Kalo Gold,\" or the \"Company\"), is pleased to announce an update on exploration activities from multiple targets in the Qiriyaga Zone at Kalo Gold's 100% owned, large 360 km2, Vatu Aurum gold project in the South Pacific's Ring of Fire, in Fiji. The Qiriyaga Zone is a 2.5 km long gold mineralized area defined by soil geochemistry and trenching that contains Qiriyaga Hill and Vuinubu Ridge mineralization and three new significant targets recently identified by IP/geophysical survey (see Company's news release dated July 21, 2021).Release Highlights:Results from a recently completed ground magnetic survey over the Qiriyaga Zone indicates a potential copper-gold porphyry system underlying the previously defined, large IP chargeability anomalies. This is further supported by petrographic analysis of deeper core samples (K4 and K5 from drill holes KGD-2021-04 and KGD-25, respectively) which have associated trace amounts of fine chalcopyrite and magnetite as alteration phases leading to the possibility that the observed, pipe-like magnetic anomalies represent copper-gold bearing porphyry-style mineralization.The survey defined two large magnetic anomalies. Both anomalies are broadly coincident with, but underlying previously defined IP chargeability anomalies, occurring adjacent to currently known gold mineralization, which is associated with non-magnetic silica clay alteration.Currently known gold mineralization occurs in non-magnetic or de-magnetized zones associated with mainly silica-clay sericite or propylitic alteration. The magnetic anomalies open-up another potential target area at the Qiriyaga Zone. Drill testing of these targets will commence as soon as Fiji inter-island travel is lifted.Fred Tejada, Kalo Gold Chief Executive Officer, commented: \"We are extremely excited about the geophysical survey results over the past three months. In July, our IP survey indicated that the Qiriyaga Zone has the potential to be a large mineralized system and that Qiriyaga Hill could just be the tip of the iceberg. From the magnetic geophysical survey and petrographic analysis of drill core, the Qiriyaga Zone is also potentially associated with a proximal copper-gold bearin...